My advice to you is to tell him to get with it - gather all documentation on expenses incurred for his business (1099 implies he is a dba or is self employed) - because many expenditures are tax deductible.
Get to a REALLY good CPA and let him/her deal with the filing and the paperwork. This is going to be out of both your realms.
His credit will be affected by this - and also big news - he doesn't have to file for the MAN to know he made the money. The person filing the 1099 also files a copy with the Internal Revenue Service.
Granted they are pretty slow - but they will catch up with him and wait till you see the fees and penalties.
The MAN knows he made that money & exactly how much - and it better jive once he grows up and sends it in. It's called tax evasion & it is prosecutable. Just ask Leslie Snipes.
Whether you marry him or not - you are his significant other - and if you are co-habitating you will be affected by his financial burdens - because in some way or another you will be picking up the slack.
You cannot hide from the MAN - Please reiterate this to him.
I am not a CPA - I am only a humble Real Estate Agent - I am self employed and have been for almost 10 years.
I have consulted for and represented clients to the IRS - they (the IRS) are a joy to work with..... But you don't want to, trust me.
What should YOU do? Be aware, be diligent, and be ready deal with the man knocking at your boyfriends' door. Don't wait any longer. I will not tell you what to do with your life - but I will tell you to strongly advise your boyfriend that this doesn't go away just because he wants to be an ostrich.
Even if you are owed, you still legally have to turn in a filing.
Wesley Snipes, the actor, now faces 16 years in prison for tax evasion. So ask your boyfriend if he thinks he looks good in pinstripes.
And forget about ever being able to buy a house, even if you were to pay cash. The law requires businesses to file a report with the IRS on anyone who is involved in a cash transaction involving more than $10,000.
stupid, as income from his 1099's are reported directly to the IRS automatically by the company that
sends him the 1099's. The company is required by law to send his income information to the IRS. Personally, I went two years without filing income taxes--then decided not to take anymore risks and I
called the IRS and asked them what should I do to bring my taxes current? The penalties are usually
less harsh, and he will avoid jail time, if he voluntarily brings his taxes current--with the help of a qualified
CPA. If it turns out, he owes a hefty sum, the IRS will allow him to make monthly payments. He needs to inquire about IRS taxpayer amnesty. Remember, IRS taxpayer amnesty will not eliminate his legal obligation to pay his back taxes but it beats going to jail. If this guy still refuses to pay income taxes, you have to ask yourself: What else is he being dishonest about??? If he refuses to do the right thing and accepting his financial obligation to
the government, you are better off without him! Whatever you do, do not marry him unless he is willing
to PROVE to you he has filed past-due tax reports, made payment arrangements with the IRS, and above
all--has shown a long-term willingness to fulfill his income tax obligation. Make him show you the proof--
don't just take his word for it. If he refuses to show you proof of a satisfactory arrangement with the IRS,
followed by payments made on time--then dump him. He is not the only fish in the sea! BTW: If you
make a repayment arrangement with the IRS and miss just one payment--the entire balance becomes
due and payable, with interest and penalties added on by the IRS. Good Luck!
This is a pretty scarey situation. The IRS is like an elephant....they are slow but when they come down, they come down hard. It is only a matter of time before he gets caught.
As long as you are not married to the gent you are fine. Take a look at his sense of responsibility before making any long term committments here.
Good luck, wise your lady.
I tell me little 16 year old sister that that there are guys who do stupid things and she'll know what they are when they pop up. It's that funny little feeling your body has when they show thier head. This would be one of them. Dump him.... He's an average frustrated chump that is heading down a path of destruction.
Until he is caught, he has the opportunity to move forward, contact the IRS, beg forgiveness/ throw himself on their mercy and set up a payment plan to pay back taxex, penalties and interest. Every year means more cost and more jail time. Good Luck!